Property Acquisition

The following are the steps to follow when the University is acquiring property through purchase or donation.

1. Contact the Associate Vice President for Business Affairs (AVPBA) Office regarding the purchase or donation of property (852-5155).
2. AVPBA Office obtains the following appropriate approvals prior to acquisition:
       Kentucky Finance Cabinet Secretary
       University of Louisville Foundation Board
       University of Louisville Board of Trustees
       Capital Projects Committee - Kentucky State Legislature
3.  AVPBA Office obtains or arranges for at least two (2) independent appraisals. Appraisers must be selected from the Commonwealth of Kentucky’s approved appraisers list.
4. The AVPBA and other interested parties review the appraisals to determine the appropriate value for the property.
5. AVPBA Office schedules a "walk-through" inspection of the property which includes the following units:
       Department of Public Safety
       Insurance and Risk Management   
       Physical Plant
       Department of Environmental Health and Safety
6. Department of Environmental Health and Safety provides an Environmental Assessment of the property.
7. Working with the Realtor, the AVPBA Office arranges for closing on the property
8. Insurance and Risk Management notifies the University’s insurance carrier regarding the property acquisition.
9. The AVPBA Office facilitates the required property closing activities.
10. The AVPBA Office coordinates the needed activities of both internal and external agencies regarding property use, i.e., Physical Plant, Utility Companies, etc.